![]() ![]() While CDs are insured by the Federal Deposit Insurance Corporation (FDIC), promissory notes are typically securities promised by one party to another, and as such they aren’t backed by the FDIC. ![]() “There are people seeing ads online and in newspapers that are talking about great rates on certificates of deposit, CDs or notes,” Clark says. Looking for a Savings Strategy? Watch Out for These 2 Money Pitfallsĭuring a recent podcast, Clark talked about the issue, which he calls a “special warning that comes in two flavors.” 1. But Clark says you need to be aware of two widely advertised avenues that are not wise choices. Interest rates on savings accounts have been in the basement for quite a while, so people are looking for alternatives. ![]() With the current economic situation being what it is, money expert Clark Howard is getting a lot of questions about where to store your money right now or the best place to stash some cash short-term. ![]()
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